Download Welcome to Principles of Macroeconomics

Econ 2101
Welcome to Principles of Macroeconomics
Hi Folks!
This is the first course in the study of how the overall economy works and what options there are to shape
the outcomes. Our central theme is what determines how much we produce, how many people are
employed, and what the price level is. These topics are in the news every day. We will use the tools of
economics to take an analytical look at these topics.
If you follow the US news, you have already heard a lot about macroeconomics. Since the Great
Recession began in December 2007, the economic news has been dominated by discussions of
problems in the financial industry, the housing bubble, the level of employment and unemployment, the
Fed and monetary policy, the federal debt, optimal tax rates, and the fiscal cliff. This course helps you
understand the economics at work in these important issues. With some work, the world will look
differently to you at the end of the course than it does at the beginning.
The more you know about current events, the more you will get out of the course. Consider reading the
Wall Street Journal, The Economist, or Business Week. You may also find segments of BBC News, PBS
News Hour (pbs.org/newshour) and Charlie Rose (charlierose.com) of interest.
This course uses graphs to show ideas, so the more you know and understand about graphs, the easier
this course will be. Khan Academy breaks the skills you need into videos of no more than 10 minutes
each. There is a list of useful links on the Moodle2 site for this course if you need to review.
The required textbook for this course is Principles of Macroeconomics, edition 2.0, by Rittenberg and
Tregarthen. The text is published by Flat World Knowledge, a company that is pioneering low-cost
textbook publishing. You have several options for acquiring the text. These are explained at here. I have
no preference as to what format you purchase. Any notation that I recommend the All Access Pass is a
generic statement by Flat World. You know how you study best, so choose accordingly.
Summer school is especially demanding. Be sure to clear your calendar of conflicts. You are
expected to be in class and to participate fully in discussions. You are required to take the
exams.
This doesn't look like your usual syllabus, right? It has all the usual syllabus content. I promise.
Try to forget your ideas about whether this course is easy or difficult, fascinating or boring. Come see for
yourself!
C. Swartz
Syllabus
Page 1 of 6
May 13
Econ 2101
Cheers,
Carol Swartz
Foundations of Economic Thinking
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Scarcity and choice
Supply and demand
Macroeconomic Measures and Issues
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•
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Production and output
Real and nominal values
Inflation
Macroeconomic Policy
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The Fed and monetary policy
Fiscal policy
International trade
C. Swartz
Syllabus
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May 13
Econ 2101
INSTRUCTOR
Dr. Carol Swartz
Office: 217 A Friday Building
This course uses Moodle2.
[email protected]
Office Hours: by appointment.
COURSE MATERIALS
This course uses Moodle2 for assignments and class communications.
The textbook is Principles of Macroeconomics, edition 2.0, by Rittenberg and Tregarthen. The text is
published by Flat World Knowledge, a company that is pioneering low-cost textbook publishing. You
have several options for acquiring the text. These are explained at here.
THIS IS YOUR EDUCATION.
You are beginning your transition from the academic world to your first career. It is important to your
future success that you build and strengthen habits of self-reliance. You gain nothing from being told the
answer. You must learn to work through problems on your own if you are to succeed. An employee who
repeatedly asks her supervisor what to do and what to decide will soon discover that it is easier for the
manager to do the work herself – without the employee. Independent workers are independent learners.
Giving a solution right away seldom helps the student and might create a false feeling of
understanding of the concepts involved. It is rightfully considered cognitive theft.
~ Shai Simonson,
Professor, Stonehill College
Learning is an inherently cumulative and self-managed activity. The ultimate goal of a college education
is to develop independent learning skills and to cultivate a desire for lifelong learning. You will likely face
several career changes, each presenting new challenges and requiring a new set of abilities. The most
important benefit that you can take from college is the ability and confidence to learn independently. It is
important to develop problem-solving skills, including the ability to:
identify resources and leverage them to your benefit,
identify knowledge gaps and fill them, and
evaluate the proposed solution for its correctness and relevance to the problem.
No purpose is served by requiring tasks based solely on memorizing material. The purpose of an
education is to expand your knowledge and your problem-solving skills. Passing tests is a consequence
of learning, not an end in itself. Be resourceful in trying to solve your problems before contacting the
instructor. You may be asked to explain the approaches you have already attempted.
PATH TO SUCCESS: COURSE GROUND RULES
1. Attend class. This is the equivalent of showing up for work.
2. Be prepared for each class meeting. Study the assigned material BEFORE the class meeting AND
learn the specialized vocabulary terms.
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Syllabus
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May 13
Econ 2101
3. Stay for the entire class time. You may not go out and come back to class. You are expected to
refrain from side conversations during the class. Do not leave the class to visit the vending
machines, kill an enemy, check Facebook, rob a bank, try a new margarita recipe, or any other
reason. Your actions have consequences for you and for others, so limit your footprint, please.
4. You will not be allowed to use electronic devices of any kind in class. Taking notes by hand facilitates
learning. Cursive writing produces more retention than printing. There is sound research to support
this. You will be given a four-function calculator for exams.
5. You may not take pictures or make recordings of the lecture or other class work. These products are
the property of the instructor. Your notes are your products.
6. If you miss a class, get the notes from a classmate. The instructor does not deliver instant replays or
even summary notes.
7. In addition to time spent in class, you should plan to spend at least 3 hours per day studying.
Additional time will be required if your prerequisite skills are weak. Additional time is also required to
prepare for exams. If you are not prepared to devote this time, day after day, reschedule this course
for a semester when you have more time available.
8. Identify and correct any skill deficiencies related to this course. These skills may be the correct use
of capitalization and other grammatical conventions, arithmetic and algebraic facility, creating and
understanding graphs, or time management skills.
9. You are responsible for solving your own IT problems. If something is not working on your phone,
Mac, or tablet, try a Windows computer. Use Firefox as your browser. If you continue to have
difficulty, call the help desk at 7 – 6400.
UNIVERSITY POLICIES
It is your responsibility to be fully and accurately informed of University policies, including, but not limited
to, rules regarding dropping and adding courses, graduation requirements, and student conduct. The
Dean of Students Office is the authoritative source for these policies.
The UNC Charlotte Code of Student Academic Integrity will be actively enforced in this course. The code
forbids cheating, fabricating or falsifying information, submitting academic work for multiple requirements,
plagiarizing, abusing academic materials, and complicity in academic dishonesty. Be sure you know the
meaning of these terms. "I didn't think THAT was plagiarizing." is not an acceptable defense. Any
special requirements or permissions regarding academic integrity will be stated by the instructor and are
binding on you. You are expected to report cases of academic dishonesty to the course instructor.
If you have a disability that affects your ability to do the work in this course, please contact the Office of
Disability Services to obtain a Letter of Accommodation. The office is 230 Fretwell; phone 7.4355.
The Belk College of Business strives to create an inclusive academic climate in which the dignity of all
individuals is respected and maintained. Therefore, we celebrate diversity that includes, but is not limited
to ability/disability, age, culture, ethnicity, gender, language, race, religion, sexual orientation, and socioeconomic status..
C. Swartz
Syllabus
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May 13
Econ 2101
GRADES
Grades will be based on the following events:
Hour exam (3 exams, 100 points each)
Periodic in-class exercises (125 points)
A cumulative final exam (200 points)
What makes a child gifted and talented may not always be good grades in
school, but a different way of looking at the world and learning.
~ Chuck Grassley
US Senator, Iowa
Exams: Barring Acts of God or University closure, the exams will be given on the date scheduled. If an
exam is not given on the date scheduled, it will be given in the next class meeting. Prepare in advance for
challenging circumstances such as having exams in other courses on the same day.
In-Class Activities: This is a small class so there will be substantial time devoted to discussion. In
addition, you will be asked to complete exercises, either alone or in groups, during class. From time-totime, these exercises will be collected and graded.
Final Exam: All students are required to take the final exam. It is a comprehensive, cumulative, allinclusive exam covering all the material from this course.
Extra Credit: Extra credit opportunities may be available from time to time at the discretion of the
instructor.
Missed Exams: If you miss any exam with a valid excuse, you will be given a grade of 0 for that exam.
The missed exam will be subject to the grade replacement policy described below.
If you miss an exam without a valid excuse, that exam grade is not subject to replacement.
Valid excuses are medical or family emergencies or some other unavoidable, important event. FBI
excuses are accepted. Documentation may be required. Oversleeping, forgetting, and not being
prepared are not valid excuses.
Grade Replacement Policy: The final exam is divided into four sections, one for the material covered by
each of the three hour exams. If your grade on a section of the final is greater than your grade on the
corresponding hour exam, the grade from the final will be substituted for the hour exam grade. There is
no limit on the number of substitutions allowed with the exception of the missed exam provision above.
This system rewards students who learn and retain the material by the end of the semester.
Course Grades: Grades will be assigned based on your course POINTS according to the following
scale:
Course Grade
Cumulative Points
C. Swartz
Syllabus
A
B
C
D
F
563 or more
500 -- 562
438 – 499
375 – 437
Less than 375
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Econ 2101
COURSE SCHEDULE
Date
Day
Topic
May 20
M
Chapter 1 Economics: The Study of Choice
May 21
Tu
Chapter 2 Confronting Scarcity: Choices in Production
May 22
W
Chapter 3 Demand and Supply
May 23
Th
Chapter 3 Demand and Supply
May 24
F
Chapter 3 Demand and Supply
May 27
M
No class
May 28
Tu
Exam 1
May 29
W
Chapter 5 Macroeconomics: The Big Picture
May 30
Th
Chapter 5 Macroeconomics: The Big Picture
May 31
F
Chapter 6 Measuring Total Output and Income
June 3
M
Chapter 7 Aggregate Demand and Aggregate Supply
June 4
Tu
Chapter 7 Aggregate Demand and Aggregate Supply
June 5
W
Chapter 7 Aggregate Demand and Aggregate Supply
June 6
Th
Exam 2
June 7
F
Chapter 8 Economic Growth
June 10
M
Chapter 9 Money
June 11
Tu
Chapter 9 Money
June 12
W
Chapter 10 Financial Markets and the Economy
June 13
Th
Chapter 10 Financial Markets and the Economy
June 14
F
Exam 3
June 17
M
Chapter 11 Monetary Policy and the Fed
June 18
Tu
Chapter 12 Government and Fiscal Policy
June 19
W
Chapter 12 Government and Fiscal Policy
June 20
Th
Chapter 15 Net Exports and International Finance
June 21
F
Chapter 15 Net Exports and International Finance
June 24
M
Review
June 25
Tu
Reading Day
June 26
W
Final Exam, 12 noon to 2:30 pm.
C. Swartz
Syllabus
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May 13